Royal Bank of Canada Cuts Plains All American Pipeline (NYSE:PAA) Price Target to $27.00
Plains All American Pipeline (NYSE:PAA) had its target price cut by Royal Bank of Canada to $27.00 in a report issued on Friday, The Fly reports. They currently have a sector perform rating on the pipeline company’s stock.
Other analysts have also recently issued reports about the company. Wolfe Research upgraded Plains All American Pipeline from a peer perform rating to an outperform rating in a research report on Thursday. ValuEngine cut Plains All American Pipeline from a hold rating to a sell rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $28.20.
Shares of PAA opened at $24.11 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.02 and a quick ratio of 0.90. Plains All American Pipeline has a one year low of $19.33 and a one year high of $27.70. The company has a market cap of $17.52 billion, a P/E ratio of 12.82 and a beta of 1.00.
In other Plains All American Pipeline news, insider Emg Investment, Llc sold 8,179,284 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total value of $188,941,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PAA. Capital Investment Advisory Services LLC purchased a new stake in Plains All American Pipeline in the 4th quarter valued at $28,000. Executive Wealth Management LLC purchased a new stake in Plains All American Pipeline in the 4th quarter valued at $28,000. Portfolio Solutions LLC purchased a new stake in Plains All American Pipeline in the 4th quarter valued at $36,000. Zions Bancorporation N.A. purchased a new stake in Plains All American Pipeline in the 1st quarter valued at $48,000. Finally, Enterprise Financial Services Corp grew its holdings in Plains All American Pipeline by 71.5% in the 1st quarter. Enterprise Financial Services Corp now owns 2,039 shares of the pipeline company’s stock valued at $50,000 after buying an additional 850 shares in the last quarter. Institutional investors own 48.43% of the company’s stock.
Plains All American Pipeline Company Profile
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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